AmTrust Enters Agreement With Safeco Insurance to Transfer Renewal Rights for Republic Personal Lines in Six States

DALLAS--(BUSINESS WIRE)--AmTrust Financial Services, Inc. (“AmTrust” or the “Company”) today announced it has entered into an agreement with Safeco Insurance, a Liberty Mutual company, to provide personal lines agents appointed with Republic General Agency a compelling opportunity to transition their Republic policies to Safeco beginning in the third quarter of 2020.

AmTrust, a leading workers’ compensation and extended warranty provider, made the strategic decision to exit, pending regulatory approval, personal lines products written through its Republic carriers. The company is focused on leveraging their unique strengths to offer select commercial P&C products and services globally where it can differentiate its offering and bring added value. AmTrust believes the agreement with Safeco will provide a smooth transition for Republic personal lines policyholders across Texas, Louisiana, Oklahoma, Arkansas, Mississippi and New Mexico.

“AmTrust is focused on our core lines where we are an industry leader and have decided to exit our personal lines business written directly through Republic,” says Jeffrey Fenster, EVP, Head of North American Specialty Risk at AmTrust Financial. “We selected Safeco as our carrier partner given what we consider to be their world-class book transfer capabilities and a proven track record for smooth transitions.”

Safeco Insurance is a top three personal lines writer in the independent agency channel and was named the carrier champion of the independent agent in the 2019 Channel Harvest Study.

“We have an unwavering dedication to our independent agency partners and look forward to bringing our best-in-class products, people, programs and service capabilities to Republic agents and policyholders,” says Gary Fischer, Senior Vice President of IA Channel Growth and Engagement at Safeco Insurance.

About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers' compensation, business owner’s policy (BOP), general liability and extended service and warranty coverage. For more information about AmTrust, visit www.amtrustfinancial.com.

About Safeco Insurance
In business since 1923, Safeco Insurance sells personal automobile, homeowners and specialty products through a network of more than 10,000 independent insurance agencies throughout the United States. In a survey conducted in 2019 by Channel Harvest, independent agents named Safeco as the carrier that does more than others to support the overall growth of agencies and be a champion of the independent agent. Safeco is a Liberty Mutual Insurance company, based in Boston, Mass. For more information about Safeco Insurance, go to www.Safeco.com.